Union Bank of Nigeria Plc has officially announced the completion of its merger with Titan Trust Bank Limited, solidifying one of the most significant consolidation moves in Nigeria’s banking sector in recent years.
The transaction, which commenced in 2021 with a Share Sale Agreement, has now received the final nod from the Central Bank of Nigeria (CBN), leaving Union Bank — a 108-year-old institution — as the surviving entity.
In a statement signed by Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, Union Bank described the merger as a strategic transformation aimed at combining its storied legacy with Titan Trust’s modern and agile approach.
“This merger is a transformative step that combines Union Bank’s long-standing heritage with Titan Trust’s agility and innovation,” the bank stated.
With the consolidation, Union Bank now operates 293 service centres, 937 ATMs, and an enhanced digital infrastructure designed to better serve retail, SME, and corporate customers nationwide.
Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, highlighted the significance of this development:
“This is a pivotal moment in our 108-year journey, and a launchpad for delivering greater value to our customers. By blending stability with innovation, we are better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner.”
Chairman of the Board, Mr. Bayo Adeleke, echoed similar sentiments, framing the merger as a catalyst for sustained growth:
“This is a new era of growth, collaboration, and shared prosperity. By bringing together the strengths of both institutions, we are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.”
Union Bank assured its customers that their account details remain unchanged and that all services will continue without disruption. The lender also revealed that it will accelerate investments in digital banking solutions, aligning with its vision of becoming the most trusted partner for Nigerians across segments.
